What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stocks and crypto trading app that distinguishes itself from similar apps by charging no fees.
A leading Canadian online financial services business founded in Autumn 2014 originally as a robo advisor automated trading platform named Wealthsimple Invest, it has evolved considerably over the past eight years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors trade both individual stocks and ETFs without paying any fees. The exception to this is when trading stocks and ETFs which are denominated in USD currency. In which case, they will charge a currency conversion fee when buying and selling. However, gone are the times of paying $7-12 per trade with discount brokerages as was the case a couple years past.
Exactly How Much Cash Will I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have quite large min deposit amounts of 1K-5K. This makes it impossible for the common new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. You are able to choose between both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on Apple and also Android. The app makes the enrollment steps and also the trading of stocks and ETFs painless.
But Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD of Assets Under Management (AUM). They have been operating for more than 7 years and also right now employs more than 600 folks. The majority owner is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add money to your new account. Simply connect a chequing or savings account to your Trade account, then fund your account in only a couple of steps. Deposits from your bank to Wealthsimple normally take a few days. Funds can also be moved back to your chequing or savings account with the exact same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to e-transfers that allow you to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and submit your tax return online free. It’s advertised to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows you to earn 1% cashback on all your purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a bunch of courses on different topics such as saving, investing, crypto, mortgages and more.
All of the mentioned products, including Wealthsimple Trade may be accessed in the app and on their site with one login.
So How Should I Begin With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special signup bonus offer to our readers you’ll receive the cash value of a random stock valued at $25 up to $4,500 CAD once you deposit to your account.
So What if I Still Have Additional Questions Related to Get Free Stock Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re still looking for additional specific facts about Get Free Stock Wealthsimple, go to the Wealthsimple website to find answers to each your questions.